However, it is not the case that everyone pays the same premium for coverage. One of the factors considered when determining the third-party liability insurance rate is the driver’s age.

Third-Party Liability Insurance and the Driver’s Age

When calculating third-party liability insurance premiums, insurance companies take many factors into account. The vehicle matters—its make, type, age, value and engine capacity. The vehicle owner is also important, particularly their insurance history, that is, whether they have caused any claims in recent years. The length of time they have held a driving licence and their age are also significant.

Drivers classified as young must expect a surcharge for this reason. How old must a vehicle owner be to be treated this way by an insurer? This depends on the individual insurance company—regulations do not specify the age, but it will most often be no more than 26.

But why does such a driver have to pay a higher third-party liability rate than an older person? Insurance companies analyse accident and collision statistics. On this basis, they know the ages of the drivers responsible for such incidents. According to data from the Polish National Police Headquarters, 23,540 road accidents and 382,046 collisions were reported to police units in 2020.

Compared with all perpetrators, drivers aged 18 to 24 stand out negatively. They have the highest number of accidents per 10,000 inhabitants. In 2020, young drivers caused 3,774 accidents, in which 43 people were killed and 4,714 were injured. The corresponding rate for drivers in this age group was 13.82. By comparison, for drivers aged 60 and over, it was 3.55.

This is the key reason why car insurance for a young driver costs more. Such customers pose a greater risk to insurance companies than experienced drivers.

The Vehicle Owner’s Age Is Not Everything

A young driver must expect their age to increase the third-party liability premium, but remember that this is only one of many factors affecting the price of coverage. The insurance history, or claims record, is very important. When taking out a first third-party liability policy, without even one claim-free year of driving behind us, the cost of such coverage may be relatively high—the insurer does not know what to expect from us. However, with each subsequent claim-free year, the cost of coverage should become lower.

The vehicle also affects the third-party liability rate. The owner of a sports car with a 3.0 engine will pay more for coverage than the owner of a city car with a 1-litre engine. The difference in the premium may amount to several hundred zlotys or even more.

Other factors considered when calculating the third-party liability price include where the vehicle is used, the car owner’s marital status, whether they have children and more. The driver’s age is, of course, an important factor, but it is only one of many. Regardless of age, there are various ways to reduce the cost of coverage. Do not opt to pay in instalments—it is better to pay the full premium immediately, as it will then be lower. Of course, this is possible if our financial situation allows it.

It is also worth concluding the agreement online. UNIQA offers a 15% discount for purchasing third-party liability and comprehensive car insurance online. This not only saves money but also allows you to conveniently fulfil your insurance obligation. There is no need to visit the company’s branch—all formalities can be completed from home, at a time that suits us. At the same time, we can choose various motor insurance products—it is worth selecting a package from one company, as it simply pays off: we can count on an attractive price.

Sources: https://statystyka.policja.pl/st/ruch-drogowy/76562,wypadki-drogowe-raporty-roczne.html